BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Short Interest Update

Key Points

• Short interest jumped 36.4% in April to 101,768 shares as of April 15, representing about 0.2% of shares outstanding and a short-interest ratio of 0.5 days.
• LEO traded at $6.32 mid-day, hovering near its 50-/200-day moving averages (~$6.34/$6.33) and inside a 52-week range of $5.71–$6.55.
• The fund declared a monthly dividend of $0.026 per share (ex-dividend April 14, paid April 30), implying an annualized yield of about 4.9%.

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 101,768 shares, an increase of 36.4% from the March 31st total of 74,622 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 206,031 shares, the short-interest ratio is presently 0.5 days.

BNY Mellon Strategic Municipals Price Performance

LEO traded down $0.02 during mid-day trading on Tuesday, reaching $6.32. 260,201 shares of the company traded hands, compared to its average volume of 201,199. The company's fifty day moving average price is $6.34 and its 200-day moving average price is $6.33. BNY Mellon Strategic Municipals has a 52-week low of $5.71 and a 52-week high of $6.55.

BNY Mellon Strategic Municipals Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 14th will be paid a dividend of $0.026 per share. The ex-dividend date is Tuesday, April 14th. This represents a c) dividend on an annualized basis and a yield of 4.9%.

Institutional Investors Weigh In On BNY Mellon Strategic Municipals

A number of hedge funds have recently added to or reduced their stakes in LEO. Capital Analysts LLC purchased a new stake in BNY Mellon Strategic Municipals during the 4th quarter valued at $26,000. Gilpin Wealth Management LLC purchased a new position in BNY Mellon Strategic Municipals during the fourth quarter valued at $29,000. CWM LLC grew its holdings in BNY Mellon Strategic Municipals by 72.7% during the third quarter. CWM LLC now owns 6,305 shares of the investment management company's stock valued at $39,000 after purchasing an additional 2,654 shares during the period. Fort Point Capital Partners LLC bought a new stake in BNY Mellon Strategic Municipals during the third quarter valued at about $68,000. Finally, BOKF NA purchased a new stake in BNY Mellon Strategic Municipals in the fourth quarter worth about $78,000.

About BNY Mellon Strategic Municipals

BNY Mellon Strategic Municipals NYSE: LEO is a closed-end management investment company that seeks to deliver a high level of current income exempt from U.S. federal income tax. The fund primarily allocates its assets to investment-grade municipal securities, including bonds and other debt instruments issued by U.S. states, territories, municipalities and their authorities.

Beyond traditional investment-grade munis, the fund may also invest in below-investment-grade securities, variable‐rate demand obligations, municipal derivatives and other income-producing instruments.

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